Indian Savings Shift: Mutual Funds Surge, Bank Deposits Decline

• Indian households are realigning financial portfolios, favoring mutual funds over traditional savings.
• Mutual funds' share in household financial assets rose from 8.5% (March 2023) to 11.7% (March 2025).
• Bank deposits declined to 43.4% in the same period; currency and non-bank deposits also contracted.
• Younger investors (20-39) drive the shift, accounting for 81% of mutual fund and direct equity investors in FY25.
• Total deposits grew 32% to Rs124.7 lakh crore by December 2025, with Maharashtra, Delhi, and Karnataka leading.

Key Question Answered

How much did total bank deposits grow from March 2023 to December 2025?

Based on the available information, the total growth in bank deposits from March 2023 to December 2025 cannot be precisely calculated.